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Trading by professional traders: an experiment
Cipriani, Marco; De Filippis, Roberta; Guarino, Antonio; … - 2020
not generate the price bubbles observed in previous studies with student subjects; traders aggregate private information …
Persistent link: https://www.econbiz.de/10012259899
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Review on efficiency and anomalies in stock markets
Woo, Kai-yin; Mai, Chulin; McAleer, Michael; Wong, Wing … - In: Economies : open access journal 8 (2020) 1/20, pp. 1-51
The efficient-market hypothesis (EMH) is one of the most important economic and financial hypotheses that have been tested over the past century. Due to many abnormal phenomena and conflicting evidence, otherwise known as anomalies against EMH, some academics have questioned whether EMH is...
Persistent link: https://www.econbiz.de/10012237439
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The inflow-effect : trader inflow and bubble formation in asset markets
Kirchler, Michael; Bonn, Caroline; Huber, Jürgen; … - 2014 - This version: August 5, 2014
traders and cash triggers bubbles ("inflow-effect"). (ii) In treatments with trader and cash inflow only in the first half of … bubbles in almost all of the 24 markets with trader inflow. The analysis of traders' beliefs reveals that (iii) despite … motive only among the optimists in treatments where we observe bubbles. …
Persistent link: https://www.econbiz.de/10010402768
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News media sentiment and investor behavior
Kräussl, Roman; Mirgorodskaya, Elizaveta - 2014
reflects very well the financial market crises and pricing bubbles over the past 20 years. …
Persistent link: https://www.econbiz.de/10010427987
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Gazing through the bubble : an experimental investigation into financial risk-taking using eye-tracking
Toma, Filip-Mihai; Cepoi, Cosmin Octavian; Kubinschi, … - In: Financial innovation : FIN 9 (2023) 1, pp. 1-27
Eye tracking can facilitate understanding irrational decision-making in contexts such as financial risk-taking. For this purpose, we develop an experimental framework in which participants trade a risky asset in a simulated bubble market to maximize individual returns while their eye movements...
Persistent link: https://www.econbiz.de/10014288934
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Efficiency and stability in complex financial markets
Caccioli, Fabio; Marsili, Matteo - 2010
in the gears of financial markets may curb the occurrence of bubbles. -- Interacting agents models ; market efficiency …
Persistent link: https://www.econbiz.de/10003914180
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The Robustness of Mispricing Results in Experimental Asset Markets
Powell, Owen - 2017
Many experiments have been conducted on market mispricing, however there is a distinct lack of guidance over how mispricing should be measured. This raises concerns about the sensitivity of mispricing results to variations in the measurement procedure. In this paper, we investigate the...
Persistent link: https://www.econbiz.de/10012964384
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On Booms That Never Bust : Ambiguity in Experimental Asset Markets with Bubbles
Corgnet, Brice - 2018
We study the effect of ambiguity on the formation of bubbles and on the occurrence of crashes in experimental asset … is risky although bubbles form in both the ambiguous and the risky environments. Additionally, bubbles do not crash in …
Persistent link: https://www.econbiz.de/10012909268
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Measuring Mispricing in Experimental Asset Markets
Powell, Owen - 2015
Mispricing (the difference between prices and their underlying fundamental values) is an important characteristic of markets. The literature on the topic consists of many different measures. This state of affairs is unsatisfactory, since it is not clear to which extent results are sensitive to...
Persistent link: https://www.econbiz.de/10013032538
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Bubbles and financial professionals
Weitzel, Utz; Huber, Christoph; Lindner, Florian; … - 2018
The efficiency of financial markets and their potential to produce bubbles are central topics in academic and … with bubble-drivers-capital inflows or high initial capital supply-are susceptible to bubbles, but they are significantly …
Persistent link: https://www.econbiz.de/10011807267